Deseret Mutual Benefit Administrators Has $56,000 Stock Position in Celanese Co. (NYSE:CE)

Deseret Mutual Benefit Administrators decreased its holdings in shares of Celanese Co. (NYSE:CE) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 805 shares of the basic materials company’s stock after selling 264 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Celanese were worth $56,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DT Investment Partners LLC increased its stake in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Celanese by 103.7% during the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after buying an additional 194 shares during the period. CKW Financial Group boosted its holdings in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after buying an additional 185 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after buying an additional 202 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Celanese by 51.1% during the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock worth $78,000 after buying an additional 382 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CE shares. Robert W. Baird decreased their price objective on shares of Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Celanese from $85.00 to $70.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler reduced their price target on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.00.

Celanese Price Performance

NYSE:CE opened at $52.75 on Friday. The company has a 50-day moving average of $68.25 and a 200-day moving average of $96.95. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -3.79, a PEG ratio of 1.05 and a beta of 1.17. Celanese Co. has a 52 week low of $51.24 and a 52 week high of $172.16. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. As a group, equities research analysts anticipate that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Tuesday, February 25th. Celanese’s payout ratio is -0.86%.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.